Middle East, Africa and Asia satellite broadband provider Yahsat says it has appointed Masood. M. Sharif Mahmood as its new chief executive officer.
Mahmood has been promoted to the role having previously held the post of deputy chief executive officer since June 2012. Mahmood replaces Tareq Abdel Raheem Al Hosani, who is expected to join the Yahsat board of directors.
Yahsat, which is headquartered in the United Arab Emirates (UAE), has operations in countries such as South Africa. Yahsat also has plans to introduce satellite broadband offerings in the likes of South Sudan.
Commenting on the executive appointment, Jassem Mohammed Al Zaabi, Yahsat Chairman said: "Tareq played a key role building Yahsat into a world class satellite communication organisation. Under his guidance and direction Yahsat has gained industry recognition and continues to grow on both a local and international level.”
“I wish Masood the best of luck in his new roles and have 100% confidence that he will lead Yahsat to further success," added Al Zaabi.
And Mahmood, commenting on his appointment as chief executive, said in a statement: "It is an honour to be taking over as CEO at a time when our business is flourishing and taking great leaps in achieving our vision to be the global partner of choice for reliable, innovative and affordable satellite solutions."
Mahmood has experience in corporate strategy and asset management, having worked within Abu Dhabi owned investment firm Mubadala for several years. Mubadala, which has operations in 17 countries globally and a portfolio valued at more than $55 billion, invests in sectors such as aerospace, infrastructure and telecommunications.
His previous roles have also involved investment management and business development for government and semi-government entities such as Dubai Holding.
As chief executive, Mahmood is further expected to complete the roll-out of YahClick, Yahsat's flagship satellite broadband internet service, which spans 28 countries in the Middle East, Africa, Central and South West Asia.
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